Medical Device Connectivity Market to Observe Prominent Growth Rate of 25.5% By 2030

The Medical Device Connectivity market research report has been meticulously crafted using foundational methodologies like surveys, focus groups, interviews, observations, and field trials. This report isn't just a document; it's a pathway to thriving and excelling in the business realm. It doesn't stop at presenting findings; it also proposes significant ideas for potential projects within the Medical Device Connectivity market, assessing their feasibility beforehand. Packed with critical data, this report holds the key to establishing dominance or carving a niche as a newcomer in this market. It serves as a comprehensive resource offering both current and forthcoming technical and financial insights into the industry.

By grasping the intricacies of consumer trends and supply chain dynamics, this expansive Medical Device Connectivity market report aids in devising effective strategies for sales, marketing, and promotion. In a swiftly evolving market landscape, businesses need a wide spectrum of tools for robust growth, and this report serves that purpose impeccably. Its content includes a dedicated chapter on the global Medical Device Connectivity market, featuring profiles of associated companies that furnish valuable data regarding their financial outlook, product portfolios, investment plans, and marketing and business strategies.

According to Data Bridge Market Research, the medical device connectivity market, which stood at USD 2.13 billion in 2022, is projected to reach USD 13.13 billion by 2030, exhibiting a forecasted Compound Annual Growth Rate (CAGR) of 25.5% during the period from 2023 to 2030. Beyond highlighting market scenarios such as value, growth rate, segmentation, geographical coverage, and key players, Data Bridge Market Research's reports also include in-depth expert analysis, patient epidemiology, pipeline analysis, pricing evaluation, and regulatory frameworks.

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Electronic data is a rapidly developing adoption in the healthcare IT market. EHR databases and software offer rich resources to enhance precision medicine development. As per the NCHS (National Center for Health Statistics) at the CDC (Center for Disease Control and Prevention), U.S., the EHR adoption by primary care physicians surged from 72.1% in 2013 to 78.6% in 2014, witnessing an increase of 6.5%. Furthermore, the COVID-19 pandemic increased the demand for medical device connections, which boosted the growth and expansion of the market in the future.

Key Growth Drivers:

Growing Cases of Cancer

According to the International Agency for Research on Cancer (IARC) and Global Cancer Observatory (GLOBOCAN), cancer cases are rising. In Asia, China witnessed 4,285,033 cancer cases in 2018, followed by India and Japan, with 1,157,294 and 883,395 new cases, respectively. Globally, there were an expected 18.1 million cancer cases in 2020, of which 9.3 million were men and 8.8 million were women. The increasing burden of cancer is increasing the demand for advanced technologies, enhancing the wireless technology of the market. These patients need detailed care and constant monitoring, which is possible through this technology. Thus, this factor boosts market growth.

Increasing Adoption of Wireless Networks

Hospitals and other healthcare providers using wireless medical devices offer increased patient safety and data accuracy, improving patient care. Hospitals are now being provided with the wireless local area network (WLAN) in the infrastructure. WLAN is used in hospitals for health data transmission, communication, and patient monitoring. For instance, clinicians and nurses can make better clinical decisions with accurate patient information delivered through a personal digital assistant (PDA) or phone. Such applications of WLAN are very helpful in improving patient care and healthcare management. Thus, this factor boosts market growth.

The report outlines the involvement of key players, including:

Cerner Corporation (U.S.), Medtronic (Ireland), Masimo (U.S.), Koninklijke Philips N.V. (Netherlands), General Electric (U.S.), Stryker (U.S.), iHealth Labs Inc., (U.S.), Cisco Systems, Inc. (U.S.), Lantronix Inc. (U.S.), Infosys Limited (India), Silicon & Software Systems Ltd. (Ireland), Hill-Rom Services Inc. (U.S.), Silex Technology America, Inc (Japan), Digi International Inc. (U.S.), Baxter (U.S.), TE Connectivity (Switzerland), Bridge-Tech (U.S), and MediCollector (U.S.)

Key Market Segmentation

Product and Service (Medical Device Connectivity Solutions, Medical Device Connectivity Services), Technology (Wired Technologies, Wireless Technologies, Hybrid Technologies), Application (Vital signs and patient monitors, Anesthesia machines and Ventilators, Infusion pumps, Others), End User (Hospitals, Home Healthcare Centers, Diagnostic Centers, Ambulatory Care Centers)

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Data Bridge Market Research is a multinational management consulting firm with offices in India and Canada. As an innovative and neoteric market analysis and advisory company with unmatched durability level and advanced approaches. We are committed to uncover the best consumer prospects and to foster useful knowledge for your company to succeed in the market.

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